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EC Hopes EU's Defense Research Spending Increases to $100 Mln by 2020

© AP Photo / Matthias SchraderA German Bundeswehr soldier of the 122th Infantry Battalion
A German Bundeswehr soldier of the 122th Infantry Battalion - Sputnik International
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European Commission Vice-President Jyrki Katainen said Wednesday he hopes the European Union's defense-related research spending would increase from the current 25 million euros ($28 million) to 90 million euros ($100 million) by 2020.

MOSCOW (Sputnik) — Speaking at a briefing in Brussels, he expressed hope that — "depending on the political priorities" — defense-related spending would increase to 500 million euros per year over the next multiannual financial framework.

"Now we have 25 million [euros] available, next year most probably there will be more, and by 2020 we hope to increase this to 90 million euros," Katainen, in charge of jobs, growth, investment and competitiveness said.

NATO and US flags flutter as U.S. Air Force F-22 Raptor fighter flies over the military air base in Siauliai, Lithuania, April 27, 2016. - Sputnik International
Curses! Foiled Again! NATO Defense Spending Push Runs Into Berlin Wall
The European Union is losing from 25 billion to 100 billion euros ($28-$111 billion at the current exchange rates) because of the insufficient coordination between the member states in the sphere of defense spending, European Commission vice-president in charge of jobs, growth, investment and competitiveness said Wednesday.

"The lack of cooperation between member states in the field of defense and security is estimated to cost annually between 25 to 100 billions. In other words, it means that all the member states are investing more or less in the same issues, same capabilities," Jyrki Katainen told reporters after the meeting.

The EU official added that the European Union needed "a strong political will" to increase its efficiency in this sphere.

US President Donald Trump has repeatedly called on European members of NATO to increase military spending to share US' burden.

The target of spending 2 percent of the GDP mandated by NATO was adopted at the alliance's September 2014 Summit in Wales, with only five countries, including the United States, meeting the required standard, according to NATO figures.

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